EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, FRIDAY, SEPTEMBER 27, 2013
BEA 13-47


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James Rankin: (202) 606-5301 (Personal Income) piniwd@bea.gov
Harvey Davis: (202) 606-5302 (Personal Consumption Expenditures) pce@bea.gov
PERSONAL INCOME AND OUTLAYS, AUGUST 2013
Personal income increased $57.2 billion, or 0.4 percent, and disposable personal income (DPI)
increased $56.2 billion, or 0.5 percent, in August, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $34.5 billion, or 0.3 percent.  In July, personal
income increased $21.2 billion, or 0.2 percent, DPI increased $32.7 billion, or 0.3 percent, and
PCE increased $18.3 billion, or 0.2 percent, based on revised estimates.

Real disposable personal income increased 0.3 percent in August, compared with an increase of 0.2
percent in July.  Real PCE increased 0.2 percent, compared with an increase of 0.1 percent.

                                        2013
                                        Apr.            May             June            July            Aug.
                                                       (Percent change from preceding month)
Personal income, current dollars        0.0             0.3             0.3             0.2             0.4
Disposable personal income:
 Current dollars                       -0.1             0.3             0.3             0.3             0.5
 Chained (2009) dollars                 0.2             0.2            -0.1             0.2             0.3
Personal consumption expenditures:
 Current dollars                       -0.2             0.2             0.6             0.2             0.3
 Chained (2009) dollars                 0.0             0.1             0.2             0.1             0.2

BOX._____________
This news release presents revised estimates of wages and salaries, personal taxes, and contributions for government
social insurance for January through March 2013 (first quarter).  These estimates reflect the incorporation of the
most recently available first-quarter wage and salary tabulations from the quarterly census of employment and wages
from the Bureau of Labor Statistics.
_________________

                                 Wages and salaries

Private wages and salaries increased $28.5 billion in August, in contrast to a decrease of $10.9 billion
 in July.  Goods-producing industries' payrolls increased $7.9 billion, in contrast to a decrease of $4.6 billion;
 manufacturing payrolls increased $6.4 billion, in contrast to a decrease of $5.1 billion.  Services-producing
 industries' payrolls increased $20.5 billion, in contrast to a decrease of $6.3 billion.

Government wages and salaries increased $2.0 billion in August, in contrast to a decrease of $7.6 billion in July.
Government wages were reduced by $7.3 billion in August and $7.7 billion in July due to furloughs that impacted
several federal government agencies.

                                Other personal income

Supplements to wages and salaries increased $3.8 billion in August; supplements were unchanged in July.

Proprietors' income increased $13.1 billion in August, compared with an increase of $10.2 billion in July.
Farm proprietors' income increased $7.9 billion, compared with an increase of $8.0 billion.  Nonfarm proprietors'
income increased $5.0 billion, compared with an increase of $2.3 billion.

Rental income of persons increased $7.6 billion in August, compared with an increase of $7.8 billion in July.
Personal income receipts on assets (personal interest income plus personal dividend income) decreased $4.5 billion,
in contrast to an increase of $13.6 billion.   Personal current transfer receipts increased $10.8 billion,
compared with an increase of $5.8 billion.

Contributions for government social insurance -- a subtraction in calculating personal income -- increased
$3.9 billion in August, in contrast to a decrease of $2.3 billion in July.

                                Personal current taxes and disposable personal income

Personal current taxes increased $1.0 billion in August, in contrast to a decrease of $11.5 billion in July.
Disposable personal income (DPI) -- personal income less personal current taxes -- increased $56.2 billion,
or 0.5 percent, in August, compared with an increase of $32.7 billion, or 0.3 percent in July.

                                Personal outlays and personal saving

Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased
$38.4 billion in August, compared with an increase of $22.2 billion in July.  PCE increased
$34.5 billion, compared with an increase of $18.3 billion.

Personal saving -- DPI less personal outlays -- was $580.7 billion in August, compared with $562.8 billion in July.
The personal saving rate -- personal saving as a percentage of disposable personal income -- was 4.6 percent
in August, compared with 4.5 percent in July.  For a comparison of personal saving in BEA's national income
and product accounts with personal saving in the Federal Reserve Board’s flow of funds accounts and data on
changes in net worth, go to www.bea.gov/national/nipaweb/Nipa-Frb.asp.

                                Real DPI, real PCE and price index

Real DPI -- DPI adjusted to remove price changes -- increased 0.3 percent in August, compared with an increase
of 0.2 percent in July.

Real PCE -- PCE adjusted to remove price changes -- increased 0.2 percent in August, compared with an increase
of 0.1 percent in July. Purchases of durable goods increased 0.8 percent, compared with an increase of 0.4 percent.
Purchases of nondurable goods decreased 0.2 percent, in contrast to an increase of 0.6 percent.  Purchases of
services increased 0.2 percent, in contrast to a decrease of 0.1 percent.

The price index for PCE increased 0.1 percent in August, the same increase as in July.  The PCE price index,
excluding food and energy, increased 0.2 percent in August, compared with an increase of 0.1 percent in July.

                                Revisions

Estimates have been revised for April through July.  Changes in personal income, in current-dollar and
chained (2009) dollar DPI, and in current-dollar and chained (2009) dollar PCE for June and July -- revised
and as published in last month's release -- are shown below.

                                                                Change from preceding month
                                        June                                      July
                                        Previous   Revised   Previous   Revised   Previous   Revised   Previous   Revised
                                       (Billions of dollars)      (Percent)      (Billions of dollars)      (Percent)
Personal Income:
 Current dollars                            38.2      43.4        0.3       0.3       14.1      21.2        0.1       0.2
Disposable personal income:
 Current dollars                            27.3      32.2        0.2       0.3       21.7      32.7        0.2       0.3
 Chained (2009) dollars                    -21.9     -13.9       -0.2      -0.1        9.6      19.9        0.1       0.2
Personal consumption expenditures:
 Current dollars                            64.0      63.0        0.6       0.6       16.3      18.3        0.1       0.2
 Chained (2009) dollars                     16.1      18.3        0.2       0.2        5.3       7.2        0.0       0.1

BEA's national, international, regional, and industry estimates; the Survey of Current Business; and BEA news
releases are available without charge on BEA's Web site at www.bea.gov.  By visiting the site, you can also subscribe
to receive free e-mail summaries of BEA releases and announcements.

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Next release - October 31, 2013 at 8:30 A.M. EDT for Personal Income and Outlays for September